Nordson Corporation Stock Forecast

Nordson Corporation stock upgraded from Sell Candidate to Buy Candidate after Wednesday trading session.
(Updated on May 01, 2024)

NDSN Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 1.07%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Nordson Corporation stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $265.80. On a fall, the stock will find some support from the short-term average at $260.55. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Thursday, March 28, 2024 and based on theory for this formation the price should fall by -0.81% to $258.84 within 24 trading days since signal was issued (Thursday, May 02, 2024).

Support, Risk & Stop-loss for Nordson Corporation stock

Nordson Corporation finds support from accumulated volume at $260.37 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $6.47 (2.52%) between high and low. For the last week, the stock has had daily average volatility of 1.67%.

Our recommended stop-loss: $245.52 (-5.91%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)

Trading Expectations (NDSN) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect Nordson Corporation to open at $260.61, and during the day (based on 14 day Average True Range), to move between $256.85 and $265.05, which gives a possible trading interval of +/-$4.10 (+/-1.57%) up or down from last closing price. If Nordson Corporation takes out the full calculated possible swing range there will be an estimated 3.14% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $260.37 (0.22%) than the resistance at $263.20 (0.86%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Nordson Corporation stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Nordson Corporation stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 1.416 Buy Candidate Upgraded

Predicted Opening Price for Nordson Corporation of Thursday, May 2, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.